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I'm glad to see you doing a video blog. I consider you a voice of reason in a sea of turmoil. I appreciate your clarity and couldn't agree with you more. I actually posted very simular comments today on my Facebook page regarding Warren Buffet, only possibly less kind.

I live in California and work for a local County Government. I've watched the games played with our State Budget for several years now. I've also watched my pension fund (CALPERS) for several years.

I know that ALL state pensions are in serious condition due to many factors i.e. the crash of 2008, Baby Boomers, and pension boostings... but my main concern is the derivitive markets that were invested in by a lot of these State Pensions in products such as mortgaged backed securites... (and GOD knows what other financial products that received Moody's ratings as safe and lucrative).

I'm wondering, since these are "On hold" right now with Forclosuregate... and the feds are keeping interest rates at bay... well... It appears that with QE2... and Muni bond problems, that all these public and private pensions are withering even further. Are they "Trying" to get rid of these pension funds? It seems that the government has been very irresponsible with Social Security too... (which I've paid into since I was 16). I hate to sound like a "conspiracy theorist" but the evidence seems to be pointing to some kind of "forced" privatization with retirement funds with a 'Shared Risk' in the markets.

The State of California just passed 2 new laws in Oct. that supposedly affect how CALPERS and CALSTERS have to acturize and account for the funds that they manage. CALPERS responded with a statement to the effect that they 'didn't have the staff to comply'... which only made me more nervous about the money I have vested in there.

I know they currently have lawsuits with Goldman Sachs and some other banks like Bof A through Blackrock? for "put backs" and even "fraud" ... but no where can I find the actual "percentage" of holdings that are in question.

We're so "Globally" connected now, and CALPERS is such a huge fund . I don't think the FEDS would even know which way the global dominos would fall... Maybe they are pissed off because CALPERS won't pull their investments out of IRAN...

O.K., I'm kind of rambling here...

I was wondering (since it affects so many people in nearly every State...) if you would be so kind as to speak a little about what you see as possible affects of QE2 and the Forclosuregate problems on public and private pensions in one of your upcoming videoblogs.

(IF the banks even get through all this litigation with out the need for another bailout)...